Altcoin
VanEck Lists SUI ETN on Euronext Amsterdam and Paris
VanEck has initiated its new SUI ETN, which is listed on the Euronext Amsterdam and Paris exchanges. This product offers investors access to SUI’s blockchain without holding its tokens.
Sui has achieved a significant milestone, reaching $28 billion in decentralized exchange (DEX) trading volume by November 13, 2024. If Sui’s bullish price trend persists, the layer-one blockchain could witness a strong rally, potentially driving its price to $5. At the time of writing SUI price was up by over 7% to $3.18.
VanEck Unveils SUI ETN on Euronext Exchanges
VanEck debuted an SUI exchange-traded note, ETN, on the Euronext Amsterdam and Euronext Paris, offering investors indirect exposure to the Sui blockchain. Via this ETN, one can participate in developing the SUI token without ever owning or storing it.
Sui has recently reached a major milestone, achieving $28 billion in decentralized exchange (DEX) trading volume as of November 13, 2024. This figure is nearly three times the trading volume of its competitor Aptos, which currently stands at $9.4 billion. If the bullish trend in Sui’s price continues, layer one could experience a strong rally to reach $5. At the time of press SUI price was still rocketing by more than 7% to $3.18.
Sui is a decentralized innovative contract platform developed by Mysten Labs. It boasts high speeds and a friendly user experience. Unlike Bitcoin and Ethereum, which execute and settle transactions serially, resulting in delays and increased costs, Sui allows multiple transactions to happen at the same time. This feature makes it very attractive for use cases that require interaction in real-time, such as financial services or gaming.
Sui is about the fast finality of transactions, and that fills in the gap between traditional Web2 and decentralized Web3, said Martijn Rozemuller, the CEO of VanEck Europe. The blockchain uses a modified form of the Move programming language, which was invented for Meta’s Diem cryptocurrency project.
SUI Investment Simplified, But Proceed With Caution
As Menno Martens, Crypto Product Manager at VanEck Europe, explained, Sui has positioned itself favorably for success in scalability and low transaction costs compared to other older blockchain networks. Martens added that this Sui ETN would enable investors to easily tap into the growth potential of the blockchain via a regulated exchange-traded product.
The ETN follows the MarketVector Sui VWAP Close Index, tied to the price of the SUI token. Users process transactions within the ecosystem using SUI, the network’s native cryptocurrency. Bank Frick securely stores the ETN’s fully collateralized assets in cold storage.
Although it offers easier blockchain market access, potential investors should be aware of its associated risks. VanEck has noted the extreme volatility of digital assets and uncertainty regarding regulatory frameworks for cryptocurrencies in many cases. It is an ETN with a TER of 1.5% and can be traded like any other regulated stock exchange product.
The data underscores Sui’s rapid rise in the competitive DEX ecosystem, showcasing its growing dominance and user adoption. This milestone highlights the platform’s ability to attract significant liquidity and trading activity, setting it apart from other blockchain networks.
Teuta Franjkovic
Teuta is a seasoned writer and editor with over 15 years of experience in macroeconomics, technology, and the cryptocurrency and blockchain industries.
Starting her career in 2005 as a lifestyle writer for Cosmopolitan, she expanded into covering business and economy for several esteemed publications like Forbes and Bloomberg.
Influenced by figures like Don and Alex Tapscott and Laura Shin, Teuta embraced the blockchain revolution, believing crypto to be one of humanity’s most crucial inventions.
Her fintech involvement began in 2014, focusing on crypto, blockchain, NFTs, and Web3. Known for her excellent teamwork and communication skills, Teuta holds a double MA in Political Science and Law.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
DOGE has been topping the gainers’ chart for the whole of November, and according to market signals, there might be a possible shift in Dogecoin price soon pushing its price well over $1. Analyst Kaleo highlighted that Dogecoin is currently in an accumulation phase just above a significant resistance level on the higher timeframe, laying the groundwork for a potential bullish move.
He noted that this accumulation trend has previously served as a launchpad for rallies, and he believes it could lead to a similar surge in the near future.
Dogecoin Price to Surpass $1 in November?
Crypto analyst KALEO recently gave a very encouraging outlook for Dogecoin price based on his study of the DOGE to BTC pair. Even though he thinks there’s still a lot of room to run up if history once again rhymes with itself, the price of $1.00 and even more should happen in the next few weeks. Speaking about the DOGE to BTC trading pair, he said that since the first half of 2021, it has been subjected to a downtrend characterized by lower highs and lower lows.
Just a reminder: The last time the $DOGE / $BTC pair had this type of a breakout, it had a swift 175% pump to its previous all time highs.
With the way the market has moved recently, and how much strength Dogecoin has shown after Trump was elected and Elon starting to push… pic.twitter.com/FD18Ys0fc8
— K A L E O (@CryptoKaleo) November 13, 2024
The recent breakout above the upper trendline has given cause for cheer. KALEO said that the last time such a breakout had occurred was early in 2021. That was only 24 hours before DOGE had a massive 175% rally that had taken the price to an all-time high of $0.7316. In his view, this is similar to the price action now, meaning that the top meme coin might be up for another rapid rise to more than just $1 in not more than a few weeks.
He explained that recent market conditions, Dogecoin’s resilience, and attention from Trump and Musk set the stage for a rally.
He said:
“With the way the market has moved recently, and how much strength Dogecoin has shown after Trump was elected and Elon starting to push again, I wouldn’t be surprised to see something similar here.”
Moreover, KALEO saw an interesting accumulation phase in the DOGE/BTC pair since the breakout of the past 48 hours. He added that consolidation above a critical resistance level sets a strong foundation for the next bullish move. Past trends have shown that a significant rally follows such accumulation phases, and KALEO expects Dogecoin to be no different.
The broad crypto market outlook also favors the bullish side of KALEO’s outlook. While DOGE is positioned to outperform Bitcoin’s upside, this expected rally will be even more exaggerated in this conducive market environment.
Dogecoin’s November Rally: Can DOGE Repeat its Historic Gains?
Just when it seemed like Elon Musk’s influence on Dogecoin’s price was over, a surprise move by President-elect Trump saw its prices soar to the moon. In the most recent rally, he appointed Musk to head the Department of Governmental Efficiency or D.O.G.E. The subsequent Republican win propelled the coin upwards, with DOGE up 106% in the last week, displacing XRP to become the fifth-largest cryptocurrency.
DOGE has shown tremendous momentum of late, closing October with its second-highest monthly gains since 2014. In November, investors feel that this upward path will continue. If not for the BTC strength, then at least to continue due to the renewed excitement within the cryptocurrency community. So far, DOGE’s performance in November has been mixed. Yet again, the stage is set for a possible rally.
Analysts have taken to a likely triangular pattern in the DOGE chart. This signals that a positive breakout could be around the corner.
Historically, DOGE’s November performance has been erratic. According to data from CryptoRank, while DOGE entered November 2014 with four positive and six negative months, the coin saw its best return in November 2017 with a gain of 81.9%. Its lowest performance was seen in 2018, with a decline of 42.2%. Last November, Dogecoin saw a rise of 22.5%, reflecting its community-driven momentum and high-profile supporters like Elon Musk.
Despite such a checkered history, Dogecoin remains popular among retail investors, and analysts still predict further growth this November. DOGE is also likely to experience a temporary pullback to consolidate and regain strength after the recent bullish exhaustion.
In 2021, the second triangle pattern led to a 15,000% rally. The first triangle in 2017 gained 8,933%. With the current market outlook and technical formations, November is crucial for Dogecoin. Investors are closely monitoring its price.
Teuta Franjkovic
Teuta is a seasoned writer and editor with over 15 years of experience in macroeconomics, technology, and the cryptocurrency and blockchain industries.
Starting her career in 2005 as a lifestyle writer for Cosmopolitan, she expanded into covering business and economy for several esteemed publications like Forbes and Bloomberg.
Influenced by figures like Don and Alex Tapscott and Laura Shin, Teuta embraced the blockchain revolution, believing crypto to be one of humanity’s most crucial inventions.
Her fintech involvement began in 2014, focusing on crypto, blockchain, NFTs, and Web3. Known for her excellent teamwork and communication skills, Teuta holds a double MA in Political Science and Law.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Donald Trump’s World Liberty Financial (WLFI) has partnered with Chainlink to help secure its DeFi ecosystem. The DeFi protocol will adopt Chainlink’s standard for on-chain data and cross-chain interoperability to help ensure a successful launch.
World Liberty Financial Adopts Chainlink’s Standard
The DeFi protocol announced in a press release that it was adopting the Chainlink standard for on-chain data and cross-chain connectivity to help power its platform. WLFI reached this decision after determining that Chainlink was the most secure solution to solve the critical security, interoperability, and on-chain data problems related to successfully launching a leading DeFi platform.
World Liberty Financial believes that this would go a long way as it seeks to kick off the next wave of DeFi mass adoption, as the Chainlink standard will provide their community with the security and reliability needed to succeed in this goal.
Meanwhile, the press release revealed that the adoption of the Chainlink standard will start with the WLFI Protocol integrating Chainlink Price Feeds on the Ethereum mainnet, supporting the planned launch of the World Liberty Financial Aave v3 instance, although subject to the WLFI Governance platform approval process. The WLFI platform is built on the Aave DeFi protocol.
Thanks to the collaboration, WLFI will have access to Chainlink’s infrastructure, which has enabled over $16 trillion in transaction value. The Chainlink Price Feeds will provide the WLFI protocol with a secure and reliable source of financial market data, which is crucial to the protocol’s integration of assets such as USDC, USDT, ETH, and WBTC, among others.
Over time, WLFI will implement additional capabilities from the Chainlink standard, such as cross-chain interoperability and proof of reserves for RWAs.
Aligning With The Donald Trump Vision
In the press release, World Liberty Financial reaffirmed that its vision is to pioneer further the DeFi space, which is inspired by US President-Elect Donald Trump’s vision to democratize financial opportunities while safeguarding the global standing of the US Dollar.
Additionally, the WLFI Protocol aims to provide users with information and access to third-party DeFi applications, supporting the adoption of US dollar-based stablecoins that ensure the Dollar remains the world’s reserve currency.
Commenting on World Liberty Financial’s partnership with Chainlink, Eric Trump said,
“World Liberty Financial’s partnership with Chainlink marks a huge step forward. Never before have we been more bullish on crypto or the overall future of DeFi technology.”
Boluwatife Adeyemi
Boluwatife Adeyemi is a well-experienced crypto news writer and editor who has covered topics that cut across DeFi, NFTs, smart contracts, and blockchain interoperability, among others. Boluwatife has a knack for simplifying the most technical concepts and making it easy for crypto newbies to understand. Away from writing, He is an avid basketball lover and a part-time degen.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Altcoin
Dogecoin Eyes Parabolic Rally To Price Discovery, Is The 16,000% Surge From 2020 Possible This Time?
The Dogecoin price is again eyeing a parabolic rally that will put the meme coin in price discovery and send it to new highs in this market cycle. Crypto analyst Mikybull Crypto indicated that the Dogecoin price could replicate its 16,000% surge from 2020 as it enters price discovery.
Dogecoin Eyes Parabolic Rally To Price Discovery
In an X post, Mikybull Crypto stated that DOGE’s massive parabolic rally to price discovery is loading. The analyst remarked that the entry into price discovery is interesting, as the Dogecoin price rallied more than 16,000% in 2020 when it broke above the Relative Strength Index (RSI) 70 level.
In line with this, Mikybull Crypto stated that the $1 to $3 range remains a target for the Dogecoin price in this bull run. The analyst also recently suggested that DOGE could rise to as high as $4 based on the alignment of the Fibonacci levels with DOGE’s performance after the last Golden Cross.
Crypto analyst Master Kenobi also recently stated that the Dogecoin price could rise to as high as $2 in this market cycle. He believes this would happen through the rapid flow of capital and frenzy in the market. Interestingly, the analyst made this prediction while raising the possibility of DOGE flipping Solana and BNB to become the third-largest crypto by market cap.
Meanwhile, the analyst also suggested in a recent analysis that DOGE would make its way into price discovery soon enough. This came as he highlighted a 91-day sequence, which Master Kenobi noted DOGE was 20 days away from completing. He predicted that DOGE could rally to as high as $1 between now and then. Specifically, he put December 2 as the timeline for when the target could be achieved.
Crypto analyst Dj Anas also recently predicted that the Dogecoin price could reach $1 by year-end. He made this prediction based on the Fibonacci levels, which he claimed supported a parabolic rally to this target.
DOGE Could Witness A Correction First
Amid these bullish predictions for the Dogecoin price, crypto analyst Kevin Capital has suggested that DOGE could witness a correction first before it goes into price discovery. In an X post, the analyst highlighted a symmetrical triangle and said there is a 50/50 chance of a price breakout or breakdown.
However, he remarked that he still favors a correction due to the daily RSI being above 90, which suggests that the meme coin is currently in overbought territory. The analyst had previously predicted that Dogecoin could drop to as low as $0.26 following a price correction.
At the time of writing, the Dogecoin price is trading at around $0.39, up over 7% in the last 24 hours, according to data from CoinMarketCap.
Featured image created with Dall.E, chart from Tradingview.com
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